Small Business Child Care Investment Act

Small Business Child Care Investment Act

This bill deems certain nonprofit child care providers to be small business concerns so that they may participate in specified loan programs administered by the Small Business Administration (e.g., the 7(a) loan program).

Bill 118 hr 2602, also known as the Small Business Child Care Investment Act, aims to provide support for small businesses looking to invest in child care services. The bill recognizes the importance of affordable and accessible child care for working families and seeks to incentivize small businesses to create or expand child care facilities for their employees.

The key provisions of the bill include the establishment of a grant program to assist small businesses in covering the costs associated with starting or expanding child care services. These grants can be used for a variety of purposes, such as purchasing equipment, hiring staff, or renovating facilities to meet child care licensing requirements.

Additionally, the bill includes measures to streamline the process for small businesses to apply for and receive these grants, in order to make it easier for them to access the financial support they need to invest in child care services. Overall, the Small Business Child Care Investment Act is aimed at supporting working families by encouraging small businesses to provide quality child care options for their employees. By making it easier for small businesses to invest in child care services, the bill seeks to improve access to affordable and high-quality child care for families across the country.